HISPI Project Cerebellum HISPI PROJECT CEREBELLUM

Alleged AI-Generated Scam Uses Bank of Cyprus Branding to Solicit Investments

November 14, 2024

A reportedly fraudulent online platform, falsely marketed as the 'Bank of Cyprus Trading AI Platform', utilized supposedly fabricated media. The platform, which included a video allegedly endorsed by the Bank's CEO, misused branding and displayed unrealistic investment returns. The Bank of Cyprus has denied any association with the platform, warning its customers about the use of AI-generated content in this scam. This incident underscores the importance of responsible AI governance and the need to establish guardrails for safe and secure AI practices.

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Alleged deployer
unknown-scammers, unidentified-scam-network
Alleged developer
unknown-deepfake-technology-developers, unknown-voice-cloning-technology-developers
Alleged harmed parties
prospective-investors-in-cyprus, panicos-nicolaou, general-public-of-cyprus, bbc, bank-of-cyprus-customers, bank-of-cyprus

Source

Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/1064

Data source

Incident data is from the AI Incident Database (AIID).

When citing the database as a whole, please use:

McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.

Pre-print on arXiv · Database snapshots & citation guide

We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.